U.S. Convenience Store Landscape: Q4 2021

U.S. Convenience Store Landscape: Q4 2021

SUMMARY


THE CONVENIENCE STORE LANDSCAPE: Q4 2021

The convenience store channel outperformed the broader market in the first three quarters of 2021, but that trend reversed in Q4. A decline in cigarette sales driven by supply chain constraints and price inflation was a major contributing factor.

IRI's new report, "The Convenience Store Landscape Q4 2021," explores the latest trends in the convenience channel and the most promising opportunities for retailers in the current landscape.

Highlights:

  • The convenience channel grew 4.2% in Q4, lagging the broader market. The growth was attributable to increased mobility and holiday shopping.
  • Edible store brands outperformed national brands in 2021, while national brands outperformed store brands in the nonedible categories.
  • Price increases spurred growth despite ongoing declines in volume exacerbated by supply chain challenges.
  • C-stores will need careful management of assortment, pricing and promotion to continue their growth throughout the coming year of ongoing supply challenges.
  • Store brands in the edible categories represent an opportunity for convenience store retailers to achieve differentiation, increased customer loyalty and more control over product availability.
  • The convenience channel should invest in rapid fulfillment and delivery services to maximize e-commerce opportunities while being realistic about the associated costs.

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